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Designing resilient economic institutions

Northlines   The structure of India’s labour markets exacerbated the crisis of migration last year. Institutional reforms will he   The tragic reverse migration, in the aftermath of the lockdown last year, is seen largely as a policy failure. The episode, however, also revealed deeper institutional weaknesses in the labour market. While working reasonably well during periods of normalcy, these weaknesses became our Achilles Heel in a crisi   What are economic institutions and why do their weaknesses matter? Plainly put, economic institutions are the underlying structures the nuts and bolts that enable economic activities in general, and public policies in particular, to work properly. Some institutions work at macro- or economy-wide scale, such as the legal infrastructure, which ensures property rights or contractual obligations. Other institutions may be more specific, such as the Insolvency and Bankruptcy Code (IBC), which ensures smoother working of the

Demand for work under NREGS rises in February

Demand for work under NREGS rises in February SECTIONS Share Synopsis Experts say the resurgence of Covid-19 cases, unavailability of vaccines for the working population and muted consumer demand could cause the labour market to remain unstable for at least three more quarters. AFP The February demand was highest after the three peak Covid-19 lockdown months of May, June and July, which had seen a surge following the nationwide lockdown. Demand for work under the rural employment guarantee scheme rose in February, suggesting that labour markets remain unstable amid prospects of a sharp economic recovery in the next fiscal year.

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